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Technology Stocks : The New Qualcomm - a S&P500 company
QCOM 170.90-1.3%Nov 7 9:30 AM EST
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To: Cooters who wrote (13367)6/28/2000 8:35:00 AM
From: bdog  Read Replies (2) of 13582
 
Does this mean we owe Ed an apology?

Qualcomm sees "modestly lower" South Korean orders

SAN DIEGO, June 28 (Reuters) - Qualcomm Inc. (NASDAQ: QCOM) said Wednesday that it may see "modestly lower" chipset orders in the fourth quarter due to
an expected drop in domestic South Korean phone sales.

The wireless communications technology company said the events in South Korea would not affect its third quarter pro forma earnings, but the company did not say
whether the expected order drop would hurt its fourth quarter.

Qualcomm instead said it would provide additional information on its fourth-quarter expecations on July 19, when it reports third-quarter results.

Qualcomm said the elimination of phone subsidies in South Korea are squeezing phone sales there. The company said it will continue to work closely with its South
Korean customers to monitor the situation.

Qualcomm added it would consider offsetting the problem by introducing carrier marketing programmes in South Korea, increasing exports to other markets and
speeding up the rollout of its Code Division Multiple Access (CDMA) 1x networks.

Qualcomm's shares have been on a rollercoaster ride of late. The company's stock suffered earlier in the month after China Unicom, the No. 2 state telecom carrier,
scrapped plans to use its technology, but Qualcomm shares jumped last week on speculation the company could be a takeover target.

Shares of Qualcomm closed at $63-11/16 on the Nasdaq on Tuesday, down $1-1/16 on the day. The stock has a one-year high of $200, and one-year low of
$31-1/4.
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